New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-05-18

two eastern roads ana Il happened to be CHARGED 70 the
Consolidated and made no difference on wnch account
1t was entered.
TRANSFERS or STOCK.
Commissioner AndersonYou stated In the early part
Of your examination that yonr interest In Union Racine
In 1878 WAS something like 100000 shares OF stock
A.-Yes
Q-Did you make any sales early in 1s70i Al think
1dd-to Mr. Cammack and 70 Mr.. Reyes who became
direcors Iremember that held on January i. 1879,
1000; after that made this sale 20 this syndicate
must have sold from time time up to January, 1850,
$1,000 shares.
Q.-Do you know n you appeared holder OF Union
Pacific January 20, 1ssOi Al think not. They had
law in Massachusetts that any person setting up
deal Of trouble SO transferred my stock ONT OF my
name. ~,
Odd not your holdings appear in your name after
Q-Was the law CHANGED betgeen January 90 and Feb,
s rS y hog 'n A H tho hG Saa eau e
ing by that Stocks stand IN the names OF brokers ior
DIN whose name did It standi Al think 1000 1000
sjus do not think the stock was transferred 10
Q.-From the ledger account 1t seems you received
$4,000 shares Of the new stock that March II fol-
lowing you hal sold all Of It hut about 10000 shares A.
THAT Ia undoubtedly correct hut Is erll erlon Of my
sales. de up my mind after the decision OF the SUI
preme Court that II Nonld perhaps, be better i9r ,nS
700 or 1000 zoo V %oe ok e '"' ''''A ''
fRe letter written to Mo,srs Humphreys and Dodge.
who appointed report upon the terms OF eoson
dalton. shown 20 the witness He did NOT remember
wnq wrote IT, but is believed ne ~ each ne hSd
called up much soetude and discussion that he eonl
points IT they ny had one president Tor both roads This
had its advantages ana dsad.sntases The %, kd dn.
Tie ' same, 'u and sraGaaS this led up p ihG
Dodge and solon Humphreys were selected because OF
their knoNodge and experience and because they were
liz al Hfgt
fair terms consolidation. while their researches were
going on the Nness interest had ehahSod rom pss
souri, Pacific IN order TO protect the Kansas Pacific ana
from G i' GoS%odore GarrisoS November 10. 1879
Mr. Gould did NJ. know whore N Me' $40 DSn ng anu
uary 10, 1880, or what they were doing.
HOW MIR. GOULD MADE Ills MONEY.
Q-Do you assert that that II would have been fair
and proper thing ignore IN this consolidation the past
history these roads in regard to the ranie between
1875 and sO ANot to ignore the past but the future
was more important have been all my life dealing In
ralroads-that ia, since | was OF age-and always In
futures. That is how have made my money. The hrst
railroad bonds mad bought at tea cents and not
only my bonds became good but soil my stock out
ut 1875 Just In tho Union Pacific. / saw
future there Just 30 In the Kansas Pacific saw that
the Kansas Paclnc was gong to develop iaster man e
others. because II though better country YES SIR
here Is better ofJudHng OF railroad values than
any YOU have me ntioned and is the future OF IT,
OIL only nquring your views As 10 thc duties OF
their duty have carefully examined everything In con-
necton with the actual performance aud conditions OF
o.EAnd do you know whether they did noti A
Odd you see their report Al presume did
o~Do nuderstard that the figures OF the consolda-
ton had discussed and that tho new company
was without discussion eonsttuied rs follows Union
Pacific $50 100000 Kansas Pacific SlonOooDoi
Denver Pacific - 600 600; making total capital stock
OF $50 762 500 A.Those figures represent The stocks
The consolidated stock Was not issued share Tor snare
but dollar for dollar, the NguTes Will snow
Q-whcn You read this report we're you IN favor OF the
IT, had no talk with SAGE. Dillon. Dexter AMI Anne.
Just 9 s o% rsec aud aey Tue cSa
greatly alarmed owing 10 report that was goinN 70
build an extension Denver TO unite the Missouri racine
aud Kansas Pacific. Ames, Dexter ana Atnhs anu
think, Mr. Dillon Al once came on - see me. hhI stb
in every way to persuade carry out said that
would rather give them check for million dolsr, thAn
consent 10 10 that IL they would not ask me would pay
them n million. And IL would have paid me- TOO Tor
had taken Missouri Pacific instead OF union racine
would away above par. But they IN
sisted the result OF that talk was that they won
not et me 80 out OF the 100 UNI SsneI p ap no rS
where the paper Is now probably III BOSTON Ihero was
no mention Of my being made director at tnat uhe'
The CONSOLIDATION.
Mr. Could wa. then asked II sidney Dillon did not
suggest Judge John f. Dillon good counsel for them
and replied that he himself responsible for the sug
ges,ion and wished have tho credit for H. lie smiled
at Judge Dillon. who had been carefully coaching him as
TO dates throughout his evidence and the Judge stroked
APPEAR had NewYork IN reference TO aprofess-
orship at Columbia College when tho lucky suggestion
suddenly sprung up the mind OF the great ralroader
Many more questions were pm In reference TO Judge
and SIR. Gould told nothing about the details OF ms
great deal with charming IranRaes. lso pap ,n~ h m
In substance he therein agreed TO tho conso anon uh
certain terms which provided now the dneteht h,es
should come in rs 10 the stock should be- bought
then how the branches shulIi DC paul Ior II VIZ
consolidation finally carried out That, nc sad was
the basis Of the consol alton. Ihen Commissioner An
derson gently drew him on 10 tho CONSOLIDATED motSase
Gnoucr eerned on the verge Of losing his temper when
the failed TO see tho point III exactly inc
0ED6 YOU remember sending for Mr. Holmes few
days before the consolidation In regard 10 DehVer ra
chcI Al presume az AZ Una. the vas que "
tho trustees oi the consolidated MORTGAGE was W.
familiar WIN that lnoItsSse, anu INC ici,,I in am,
shares OF the Denver racine stoeA Weto iaS,"ue ~ %
OF n. schedules which had q, trustee OF inc motghSe
remember dit talk win Mr. Holmes, ,h 10 reSarI 10
bringing suit SAID 70 MN tnt ,ne gues', , W.
whether &c would pat the Denver faclnc III thc con
solidaton foreclose tho bond Now while inc STOCK
80 80 10 speak OF intrinsic value the addition
OF the franchise OF the road would perfect the
franchise without foreclosure There were four millions
| OF stock / mad million. and we held as trustees
SGy6o YOU remember saying all this to Mr.. Holiness
A~Ths va, the conversation We nat then sa , r a.
ould mt In NY 10 cents, just what pud iur
H. bouIht II only short time before ID AIaphhoe Co,y
Colorado Ihcn IN order to got AZ the f We zoo 400
Larger value the trust stock We rallied ~ SoVv'ov"
| o0You ronuenberi IL better than Mr Holmes ! Al
01.rher II d,lncily II had Kept my stock should
nv memory with the fact that put u IN at 10 cents apu
afierwari bOughtit at par Wouldn't that nave hteult
In your mind [Laugut-r told Mr. Holmes mat II ho
could got allowance OF TJOOoOo or tnat stoch,
Trustee would surrender II he could get an order OF tue
| court I considered that sum was more thai WIS
worth but refused 10 surrender 1t without suDhlLuns
II Ia ihc court as did not know but that there might DO
| trouble about H. $500. a., - ,t,c,.
for fhe release of that stock much "a ne cOuh A.
10 sir didn't suppose II would take long Dehe'o
referred him to Mr. vsnderpoe as ny counsel ., mar,
O-As trustee OF that mortgage dd you DeleNo u par
OF Your duty make this assets realize "a much as pos
| siblc A.-Yes air 49, A., .-.-. u.,,1 a.,
worth wat Tho equivalent amount OF Union Pacific Stock
| would be worth A.-Ies, sir.
SOME THINGS nE COULD NOT REMEMBER.
About Mr. Holiness letter to him aud his reply on tne
.nI,,t lrf In sulLan nj Id